Premier (PINC) Raised to “Hold” at Zacks Investment Research

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Premier (NASDAQ:PINC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Premier, Inc. operates as a healthcare alliance. The company brings together hospitals, health systems, physicians and other healthcare providers primarily in the United States. It also maintains clinical, financial and outcomes databases. Premier, Inc. is headquartered in Charlotte, North Carolina. “

PINC has been the subject of several other research reports. Leerink Swann set a $55.00 price objective on shares of Premier and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. ValuEngine raised shares of Premier from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. SunTrust Banks downgraded shares of Premier from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Wednesday, August 22nd. They noted that the move was a valuation call. Oppenheimer increased their target price on shares of Premier to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. Finally, Piper Jaffray Companies increased their target price on shares of Premier from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $42.19.

Shares of PINC stock opened at $36.87 on Wednesday. Premier has a 12-month low of $28.59 and a 12-month high of $47.22. The firm has a market cap of $4.95 billion, a PE ratio of 52.67, a P/E/G ratio of 1.29 and a beta of 0.50.

Premier (NASDAQ:PINC) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Premier had a net margin of 32.31% and a negative return on equity of 23.61%. The company had revenue of $401.60 million during the quarter, compared to the consensus estimate of $412.79 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Premier will post 2.46 EPS for the current fiscal year.

In related news, insider Craig S. Mckasson sold 6,250 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $39.44, for a total transaction of $246,500.00. Following the completion of the transaction, the insider now owns 85,709 shares in the company, valued at $3,380,362.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kelli L. Price sold 18,000 shares of the stock in a transaction on Monday, December 10th. The stock was sold at an average price of $38.02, for a total transaction of $684,360.00. Following the transaction, the vice president now owns 33,074 shares of the company’s stock, valued at approximately $1,257,473.48. The disclosure for this sale can be found here. Insiders have sold 26,725 shares of company stock valued at $1,042,126 in the last 90 days. 18.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PINC. Vanguard Group Inc. lifted its stake in Premier by 3.9% in the third quarter. Vanguard Group Inc. now owns 5,067,095 shares of the company’s stock valued at $231,972,000 after acquiring an additional 190,635 shares during the last quarter. Vanguard Group Inc lifted its stake in Premier by 3.9% in the third quarter. Vanguard Group Inc now owns 5,067,095 shares of the company’s stock valued at $231,972,000 after acquiring an additional 190,635 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Premier by 6.1% in the third quarter. TIAA CREF Investment Management LLC now owns 1,305,807 shares of the company’s stock valued at $59,780,000 after acquiring an additional 74,621 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Premier by 1,599.8% in the third quarter. Renaissance Technologies LLC now owns 1,290,171 shares of the company’s stock valued at $59,064,000 after acquiring an additional 1,214,271 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Premier by 51.8% in the third quarter. First Trust Advisors LP now owns 919,467 shares of the company’s stock valued at $42,093,000 after acquiring an additional 313,837 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.

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